MFS reduces rates and enhances criteria

Market Financial Solutions (MFS) has reduced rates across a number of product ranges.

The specialist lender has cut rates on its Bridge Fusion range, which was introduced in June 2024 and is a hybrid of a bridging loan and a longer-term buy-to-let mortgage, allowing a longer term of 24-36 months for increased certainty on loans up to £20m.

It has also reduced rates on its commercial buy-to-let products at the same time as expanding the maximum loan term up to ten years and upping the maximum loan size from £1.5 million to £2 million.

For its residential buy-to-let mortgages, MFS is now offering a maximum loan term of ten years.

Paresh Raja, CEO of MFS, said: “We are excited to make reductions across various product ranges. Now is the opportune moment to take such action – the dust has settled on the election, the market is awaiting cuts to the Bank of England’s base rate, and the signs are pointing towards a surge in activity once the summer lull passes.

“At MFS, we are always keen to seize any opportunity to improve our products and ensure we’re offering the best possible options to brokers and borrowers, particularly as we are expecting a busy second half to 2024. The strength of our funding lines allows us remain highly competitive on rates, while our skill and expertise in the specialist lending sector ensures we can continue to take on loans that other lenders are not able to handle.”